OTI Receives Over $2 Million Follow-On Orders For EStickers To Upgrade Passports To EPassports In A European Country
ISELIN, N.J., Oct. 12, 2010 (GLOBE NEWSWIRE) -- On Track Innovations Ltd, (OTI) (Nasdaq:OTIV), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, announced today that it received over $2 million follow-on orders to deliver expansion for the previously installed ePassport personalization system and eStickers for a European country's electronic passport (ePassport) program. OTI successfully delivered and implemented an advanced infrastructure for ePassport issuing and border control passenger inspection and verification in this country, following the announcement by OTI in early 2008, which already accounted for more than $3 million in revenues. The ePassport system meets the latest standards for electronic passports set by the International Civil Aviation Organization (ICAO). The eStickers enable the upgrade of existing passports to ePassports. Deliveries of the eStickers are expected to begin in the fourth quarter this year with most of the deliveries expected next year.
OTI's advanced eSticker (electronic secured sticker) is part of OTI's MAGNA™ platform, and is based on OTI's Hercules™ Operating System, providing a breakthrough solution by enabling the upgrade of existing passports to ePassports in a simple, quick and cost effective manner. The upgrade of existing passports is done by placing the secured eSticker, which includes the electronic components, within the existing passport.
OTI's MAGNA™ modular platform offers short implementation and quick integration with the country's existing border control system and provides external interfaces to digital Certificate Authority (CA) for signature verification. The system fully complies with the ICAO standards, it offers a migration path to additional e-Gov applications and electronic ID documents, such as National IDs, Voter IDs Driver Licenses, and more.Oded Bashan, Chairman and CEO of OTI, stated, "The eSticker is a revolutionary solution enabling countries that would like to meet the advanced International Civil Aviation Organization (ICAO) standards. It enables a quick upgrade to electronic passports while keeping existing procedures in place. The eSticker is cost effective, allows countries to utilize their existing passport inventory and modernize their passport quickly."
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